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Revisiting location efficiency: strategies to graduate thinking on mortgage policy
Housing and Society (2017)
  • William W Riggs
Abstract
In recent years, mortgage credit has become scarce, especially for low-to-middle income (LMI) individuals, including the working class and minorities. This has limited the ability of many of these individuals to purchase in sustainable, transportation accessible urban locations. This paper explores location efficient mortgages (LEM), their effectiveness in encouraging home ownership in highly connected urban locations with access to non-motorized transportation, and their viability in urban markets in the US. Cases are evaluated using inferential and descriptive statistics to evaluate potential opportunities for LEMs and building on these cases, additional strategies are suggested and discussed that could increase the efficacy of LEM tools. These included: 1) integration of shared responsibility LEMs; 2) utilizing local tax structures; and 3) exploring community-based finance programs. These tools could be useful in allowing LMI buyers purchase in sustainable and high-cost, urban environments.
Keywords
  • Mortgages,
  • transportation,
  • location efficiency
Publication Date
Summer June 28, 2017
Citation Information
William W Riggs. "Revisiting location efficiency: strategies to graduate thinking on mortgage policy" Housing and Society (2017) p. 1 - 22
Available at: http://works.bepress.com/williamriggs/87/